The content of the basket of goods and services used to compute the CPI changes every month
a. True
b. False
Indicate whether the statement is true or false
False
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If the firm threatens a lockout (and the threat is credible), what is the union's best response?
a. Bargain hard b. Accommodate c. Run d. Hide
When demand is ____ a percentage change in ____ is exactly offset by the same percentage change in ____ demanded, the net result being a constant total consumer expenditure
a. elastic; price; quantity b. unit elastic; price; quantity c. inelastic; quantity; price d. inelastic; price; quantity e. none of the above
Which of the following is the profit-maximizing condition for a monopolist?
a. P = AR = MR = MC b. MR > MC c. P = AR > MR = MC d. MR < MC
Before the modern manufacturing firm evolved during the Industrial Revolution in Great Britain, entrepreneurs relied on "putting out" production to rural households, which came to be known as the cottage industry system
Indicate whether the statement is true or false